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AmCham Mongolia Daily Newswire

March 7, 2019

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Cabinet approves general guidelines for intergovernmental investment agreements
During its regular session on Wednesday, Cabinet approved general guidelines for intergovernmental agreements on the encouragement and mutual protection of investments, which will be used by the government for future investment agreements. The updated guideline’s principles are expected to help attract more stable investments, secure the nation’s security, and provide regulations on environmental protection. Mongolia has intergovernmental investment agreements with 44 countries, and 36 agreements are currently active.

Daily News /page 6/
President Kh. Battulga proposes holding an irregular session of Parliament
President Kh. Battulga submitted an official letter to Speaker of Parliament G.Zandanshatar, requesting the start of an irregular session of Parliament. The President also proposed the dismissal of the Independent Authority Against Corruption’s Chairman and Deputy Chairman, whose terms in office have expired. The letter also called for a review of the appointment of the Head of the General Staff of the Armed Forces and Deputy Prosecutor General of the State.

Daily News /page 2/
CEO of Erdenes Mongol gives a presentation at PDAC
The 87th annual Prospectors and Developers Association of Canada (PDAC) forum, exhibition, and investors meeting is taking place in Toronto, from March 3 to 6. CEO of Erdenes Mongol P. Gankhuu gave a presentation to investors on Mongolian Wealth, Challenges and Opportunities. The presentation covered Mongolia's macroeconomy, investment opportunities, strategic deposits, and ongoing projects. He emphasized that Erdenes Mongol plans to create a wealth fund, which will improve mining sector operations. He noted that mining products make up 90 percent of Mongolia's exports and that 22 percent of the state's revenue is direct income from the mining sector, which has become a mid-term risk for the Mongolian economy. Investors said they consider Mongolia's infrastructure development to be one of the most significant challenges to investment in the country, and that the proposed wealth fund could offer solutions to challenges in the mining sector.
The Century News /page 2/
Foreign trade turnover update
Foreign trade turnover has reached 1.9 billion USD as of February, rising by 23.4 percent compared to the same period in 2018. The Customs Office reported that exports exceeded imports by 256.1 million USD as of February 2019. During the reporting period, export increased by 30 percent, 75.5 percent of which were minerals, while import rose by 15.4 percent compared to the same period last year. Major import items included machinery, equipment and parts, appliances, and petroleum products.
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Please note that next DNW will publish on Monday, March 11. Happy International Women's Day!
 
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